Board of Governors of the Federal Reserve System

Data Dictionary

Item Number J889

Call confidentiality applies to FFIEC 031/041.

Data Description:

The account covers numerous items to be disbursed at a later date, such as amounts deducted from salaries for federal and state income taxes, United Fund, insurance, etc. The account also includes specific items which are due but have not yet been paid, staff salaries accrued at the close of the month, taxes on real estate, transportation charges, equipment purchases, lease payment obligations under capital leases, tenant security deposits and rent payments, active employee medical liabilities and interest payable accrued for reverse repurchase agreements. Amounts charged to this account for equipment purchases or services must be for items received or services rendered and for which the Reserve Bank has a firm obligation outstanding. Obligations under operating leases are accrued as service is provided, whereas capital lease obligations are recorded at the inception of the lease. A separate subsidiary account should be established to record obligations under capital leases. The account is also used to record the obligations of the LLCs, consolidated by the New York Reserve Bank.